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important meetings of the year. shinzo abe is flying to washington for his first talks with u.s. president barack obama since he took office in december. their agenda is packed and their discussions are expected to touch on everything from a wide-ranging free trade deal to punishing north korea. >> translator: i want the summit talks to show the international community that japan and the united states have restored the strong bond of their alliance. >> abe says that alliance became unstable during the former democratic party-led administration. he says he's going to talk to obama about the u.s.-led negotiations for the transpacific partnership. nations that joined the discussions for the free trade agreement are supposed to in principle eliminate all tariffs, but abe doesn't want to abide by the precondition. abe and obama are expected to share ideas on what to do about north korea. scientists in the country last week carried out their third nuclear test. they are agreed to push for a nuclear resolution imposing new sanctions on pyongyang. >>> government officials say the prime minister wi
, prepare for merger. a deal takes off between u.s. airways and american. what it means for consumers. troubled waters: insights on cruise stocks following carnival's rocky week. plus, does apple have a trick up its sleeve? traders give us their takes on wristwatch rumors. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, february 15th. i'm angela miles. in today's first look: stocks stay stuck. stocks and comodities barely budged yesterday. a cross-current of postive news on jobs and m&a deals in the u.s. offset negative economic data out of europe, which held the market in check. shares of herblife soared 15% after hours on word carl ichan bought 14 million shares of the nutrition company. and tiffany is suing costco. tiffany claims the club chain is selling engagement rings bearing the tiffany name. traders will enjoy a long holiday weekend. with presidents' day coming up on monday, the markets will be closed. mark sebastian of option pit mentoring joins us on this friday for a closer look a
. there are new claims of a responsibility for a terrorist attack on the u.s. embassy in turkey. we know about the group and how they fit into the wider global terror network. >> the white house on defense over defense secretary nominee chuck hagel's explosive and contentious senate hearing. what are the chances that he'll get confirmed. >>> the dow closing above 14,000 for the very first time in years. will it continue? that's the big question. >>> but up first some brand new developments this out of alabama. that's where a 5-year-old boy remains hostage in an underground bunker. at this hour authorities sent a special message to the man holding him there, jimmy lee dykes. the standoff began five days ago when police say dykes kidnapped the boy from his school bus after shooting the driver. jonathan serrie is live at the scene in midland city, alabama. what's the latest? >> reporter: no resolution as the hostage standoff goes into a fifth afternoon. however, authorities say they are in constant communication with 65-year-old jimmy lee dykes communicating through the pvc pipe that provides ven
minutes from now. until then a look at comments by u.s. army chief of staff general ray odierno. he said friday the greatest threat facing our nation is fiscal uncertainty and potential budget shortfalls. >> good morning, everyone. i'm mike owe hand lan and on behalf of peter singer and everyone else here at bookings, for the 21st century hearing on intelligence. we're welcome to have general ray odierno to speak in what could not be a more important week for american defense policy making. you're aware of budget challenges of the process and how these can affect our men and women in uniform and future military planning and current operations. no one could be a more distinguished and thoughtful person who discuss these matters than general odierno who i have great honor to know a dozen years now. he has been a friend of brookings and the a friend of the broader defense community and he has been a distinguished servant in our nation's military and our nation's defense throughout that period. he took the fourth infantry division to iraq and presided over its operations, directed its operat
a 500 pound settlement with u.s. and uk regulators later this week. rbs will cover the bonus pools after a warning from the government that taxpayers should not foot the bill. rbs is planning to float the 316 branches of santander it has so far failed to sell. according to the papers, an ipo would allow the bank to dispose of that unit cleanly. lots going on. we're pleased to be joined by michael brown. welcome. >> happy monday morning. >> i know you want to talk about the super bowl. >> well, that would be nice given i was up watching it. >> i'm impressed. i should have been up staying up all night. my sister lives in baltimore. >> there are plenty of bank stories to get to in the meantime. >> absolutely. >> we're going to hear from george osborne in just a couple on hours' time. what does this mean? >> the idea is, of course, that we should have capital in both parts. but the problem is, there isn't enough capital to go around and, therefore, you don't want to spook the financial markets by saying, by the way, yes, you do need to have this. how do we get to where we want to be, i.e. en
of the hour. ftse 100 adding about 0.8% for its part. we'll see if this positive move carries over to u.s. markets when they open in just a few hours time. as for the bond rates, it's been surprisingly quiet were as well. same happening with spain to 5.15%. so some movement out of gilt. that yield up to 2.12. it's moving out of bunds, as well, although we're still below 176%. no major change from trade levels that we've seen for the last couple of weeks. finally, forex, let's take a look at the euro. this has been important setting the tone for the trading session here and again in the u.s. the last couple of days today. it's adding 0.3%. 1.3233. we saw it jump up nearly 0.4% after that ifo data. the dollar/yen, the yen is weakening again today within adding about 0.4%. so we'll see what impact that has had on trade across asia. let's get straight to li sixuan for more. hi, sixuan. >> thank you, kelly. asian markets wrapped up the wobbly week on a mixed noed note. the shanghai composite lost 0.5% today and slumped nearly 5% on the first trading week on the year of snake. investors cautiou
of mergers to talk about. nicole: the first is in airline deal. it was highly anticipated that u.s. airways and american airlines would merge. first let's hit heinz. i am going to stick with heinz. warren buffett, berkshire hathaway. obviously at a premium. heinz is up 20%. watch the 3:00 p.m. show, we will certainly delve into it more for you. he loves their products. he loves the emerging markets. he thinks it was a great buy. then, we will talk about u.s. airways and american airlines merger. you can see they are finally coming together. the u.s. airways ceo will remain in the top spot as ceo. u.s. airways is down right now. dagen: thank you, nicole. connell: we are waiting for the speaker of the house, john boehner. we say take a look at this. a little over two weeks until automatic spending cuts will kick in. congress taking a week off leaving you just six working days to get something done. dagen: wait until the last minute has become the norm. how do you think this plays out? >> i think the impact on the economy will be small. the cuts are relatively small. we had $175 billion in tax
of the pond is the snowstorm. it seems like winds, 50 miles per hour. blizzard conditions in the u.s. we know when there's a storm like that headed for the biggest media market frankly in the world, it's probably all you're going to hear about for a while. >> that doesn't mean there aren't other things, too the. >> that's true, in other parts of the world. >> china is ushering in the year of the snake. i'm not sure what that means, but we'll talk about it. should investors brace for a slippery return? i have to say, previous years of the snakes haven't been that great since the big historical events happen. >> maybe we should call it year of the strong. >>> peugeot reveals massive write-downs as reports suggest the company may nationalize. we'll have details live tr paris at 10:10 cet. sxwt latest on the blizzard threatening to bring chaos to the east coast. we'll have the latest from atlanta. >> and are investments as pretty as a picture or a still life? ross, there's been a couple of big auctions here lately and it's always a good gauge of how well people are doing, how hard assets, real pr
unveiled by two of the most liberal members of the u.s. senate. barbara boxer from california and bernie sanders from vermont want to make polluters to manufacturers, and power plant operators pay for the pollution they generate. joining me now with the top republican on the senate energy committee, senator lisa murkowski. thank you for being with us again. great to see you. the carbon tax, good or bad idea >> this is something that is going absolutely nowhere. if what is proposed is something that is going to increase the cost to the consumers, this is just not going to happen. and when you think about the proposal that has been before the cut across, the captain trade proposal, it does not even take out the democratic lead said. it did not want to touch that. and of the to going to want to touch a carbon tax either. this is something that is just going to increase the cost to the consumer at a time that nobody is looking to increase their energy costs. we should not be looking to increase it. we should be making our energy more affordable. gerri: let me give you some numbers here. the
not living in the u.s. but in fantasyland? connell: we will talk about that and immigration reform because it has been huge topics this week. if we told you you could save billions of dollars in foreign aid to corrupt governments with immigration reform would you take that trade? dagen: super bowl feeder and counterfeiters are honest. we bring you more on a record $13.6 million bust in fake nfl merchandise. you got to give me a jersey, if you don't make one i will get one. connell: you will be all right. especially men wearing sports jerseys is one of my pet peeves. let's go to nicole petallides at the nyse-listed 14,000. nicole: don't come down here today because today on the floor of the nyse, support your favorite team. and the trader jackets a lot of traders are wearing their favorite jersey's. the dow four days out and we hit it, we are here, 14,000 right now, a gain of 140 points. dow leaders include bank of america and travelers and verizon and american express and at&t helping along the trend has been a good one, january, the best january in two decades. we kickoff 2013 in a very b
major deals. what's pressuring stocks? >> a fascinating look at ceo confidence, pwc's u.s. chairman is standing by. right now, he has his annual ceo survey. it might surprise you. >> calling senate's bluff on spending. lou dobbs weighs in. >> news on the stranded carnal cruise ship. the clock cannot turn fast enough. those poor people. >> i agree. up to speed on the markets, back to the floor, annie coal -- and nicole, another sideways day. >> dow down six points, not far off the unchanged line for all three major averages. the nasdaq and s&p squeeze out gains, the dow slightly to the downside. s&p, as we talked about yesterday, right, broader average, and the dow just has 30. it moves the archings more. one thing the traders talked about from the minute i walked in this morning was europe. you see the euro lower, the dollar is strong on a day where we heard that europe is struggling with growth over in germany, in particular, that's the real big one. france and italy would be in there. when you talk about the eurozone and growth potential seeing it is disappointing and not pulling
. the u.s. government has been bringing this up with the chinese for a long time. it is low risk. it is low cost. it is high return and difficult to track. even getting a location on these servers, this is a little bit of guesswork involved there. there are real challenges there. the big question is, how do we respond? connell: if you had to give a great to the american public, how ready are we? >> there are so many elements. you have to peel back the onion. you have to talk about things like, you know, the electrical grid and things like that. i would say we are at a c level. guy forbid, it could come to conflict with the chinese could shut out the lights on us here. shut off the power. shut out though, you know, air traffic control system. connell: thank you. i also want to point out that the ceo of that company preparing the report will be on the next hour of "markets now" with dennis kneale and cheryl casone. dagen: already looking into some stock orders. what does the chief have to say about this? connell: washington's spending problem. entitlement programs like social secur
on its nuclear program. they say the nuclear fuel is for energy reactors. the u.s. is concerned that they will produce weapons grade material. let's head to the pits of the cme and phil flynn. >> very little reaction down here. the very first place you want to look is the ti spread. it has spread out to the largest level of the year. it is possible that part of that could be this story. a lot of people did not hold out a lot of hope for the stocks. the direct talks with the u.s., they thought maybe something may come out of that. at least they were hopeful. the rejection, now that obviously looks like it will be off the table. these talks will not do a whole heck of a lot. this comes at a time where they are tightening sanctions even more on iran. we saw saudia arabia, and take if you cannot get enough supply, we will pump a little bit more. melissa: that u.s. productivity fell 2% in the fourth quarter to its lowest level in nearly two years. what does the next day to say about our economic recovery? what do you make of that productivity number? that jumped out at me. >> the mov
at the strong dollar. you also have to look that u.s. oil production did the highest level in almost 20 years. it is absolutely incredible. a couple days ago, everyone was talking about $100 a barrel. now they are wondering if $90 will hold. the april futures just hit $93, as i speak. inventories, of course, rose. it was on the increase in production. a decrease on imports. that really impacted the market. that is good news for gasoline prices. they got hit very hard. the gas inventories fell. that was a bigger drawdown in gasoline. because of the strong dollar, that is keeping that market very strong. heating oil, they do not seem to care. the other big numbers today, natural gas. a drawdown aided in expected. it gave natural gas a little bit of a boost today. we could see a bigger drawdown than expected next week. ashley: phil flynn of price future group. thank you so much. shibani: buckle up for more volatility, it sounds like. take a look at what is happening to the national price of gas. it is up there descent from a month ago. this is refinery plants across the country. they are facing
as we do every 15 minutes. lauren, we are starting the week on an up note. >> this u.s. stock market rally really started in europe. the u.s. market has of arrows across the board. a really tight range for stocks. volume clearly to the upside by about two-one your advance to the client line. really pushing closer to those all-time highs. 14,198. we are not far from there. 1576, we are not far from that either. we are getting there. hopefully, we can keep this winninn streak live. ashley: healthcare provider stocks taking a hit. proposing lowering medicare rates next year. peter barnes joins us now from inside the beltway with the details on this story. peter: they are proposing a cut of about 5% or so in payments to insurance companies that offer medicare advantage is. about a quarter of all seniors in medicare, about 15 million of them, are enrolled in medicare advantage. they could have added benefits. patients have to stay in their healthcare network which helps insurance companies, in theory, manage their costs. private insurers are reimbursed for all of this by the government. t
: this is "the new york times" from february 20th. budget cuts seen as risk to growth in the u.s. economy. the cuts, most likely would reduce growth by 1 1/2 of a percentage point in 2013, according to a range of government and private forecasters. that could be enough though to again slow the arrival of a recovery, producing instead another year of sluggish growth and high unemployment. >> guest: well i guess if you take it from "the new york times" perspective you could make that argument because i think they see already a slowing in growth happening and this makes a convenient fall person for bad public policy been in place under four years of obama administration. we have slowed growth. it has been very stagnant. there are a lot of reasons for it. there are a lot of friction points put in place in our economy that need to be fixed. until we get our confess and the president of the united states to work together and begin to remove those friction points we'll continue have slow growth. if you look at a same slide you had up a moment ago ago, shows the sequester on the right hand of tha
," the u.s. is going to sue s&p for the ratings on these loans. what's going on there? can americans get money from that? >> it's unclear. it sounds as if the u.s. does win, is successful, there would likely be some compensation or some monetary award. >> explain this quickly. they're suing s&p for giving high ratings, high marks to these companies that were on shaky ground, to say the least. >> they're suing -- they're likely going to sue, according to the story of s&p, because s&p rated certain securities and certain packages of things that these financial firms had, gave them high ratings. >> gave the federal's actual instrume instruments the high ratings. >> didn't deserve those ratings. as a result, companies either kept them on their books and they went out and tried to sell them. >> so the justice department is going to sue s&p, going to get all this money, this pot of money -- >> you're jumping two or three sets ahead. that's their hope. >> who will get the money at the end? >> from the stories, i can't tell, likely go to the government and the government would disperse some of t
the u.s. supreme court hears arguments in the case ppl energy verses the internal revenue service. examing whether u.s. corporations can deduct foreign taxes. the justices convene at 10:00 a.m.. tuesday february 26th the house homeland security committee will hear testimony on security at u.s. borders and how to improve it. that is at 10:00 a.m. in room 311 of the cannon building. wednesday february 27th at the u.s. capitol the late civil hts become the first african american woman ever honored with a statue in statue area hall. the unvailing begins at 11:00 a.m.. thursday february 28th the house committee on education and welfare holds hearings on school standards and whether schools are doing enough to measure teacher performance. that is at 9:00 a.m. in the ray burn building. and on friday march 1st at nasa headquarters. nasa advisory committee will hold hearings on the spread of unmanned aircraft systems by civilians in the united states. that is at 8:30 a.m.. that is your capitol run down for the week of february 25th. you can find more on myfoxdc.com and on twitter. i'm tom
and truck sales in the u.s. could be better than last year's numbers, and those were the highest in five years. last year, we spent a lot of time talking about evs - electric vehicles, hybrids and plug-ins. analysts say the buzz is a little less because those cars have become a part of the line-up. but fear of being stranded somewhere with no place to plug in is still a concern for consumers. the ntsb is out with its findings about boeing's battery trouble aboard its dreamliner. safety investigators are linking the fire to a short-circuit in a lithium ion battery. the battery caught fire aboard a boeing 787 parked in boston. it's still not clear what sparked the flame, and figuring out could take weeks. investigators are checking into the charge going into the battery as well as the design of the battery. internal emails may expose more about jp morgan's bad home loans. dexia, a belgian-french bank and an investor in jp morgan securities, filed the lawsuit accusing the bank of hiding or adjusting reviews of bad mortgage deals. internal correspondence showed that jp morgan bundled the mor
of congress. >>> and after more than a century, the u.s. census bureau has decided to drop the word negro on its forms and surveys. negro will no longer appear as an option for race, alongside black or african-american. many americans view the word as offensive and outdated. duh. >>> c. everett koop, the nation's most famous and influential surgeon general has died at 96. president reagan appointed koop in 1981. he was instrumental on changing america's views on smoking. he endorsed condoms and sex education to help stop the spread of aids. he was a frequent visitor to dartmouth until his death. >>> pope benedict is leaving it to the cardinals of the catholic church. benedict changed the rules, allowing the cardinals to move up the can clave start date if all of them arrive at the vatican before the 15-day waiting period ends. benedict's resignation takes effect on thursday. >>> prosecutors have asked that manslaughter charges be brought against the costa concordia cruise ship. 32 people, including 2 americans, died in that accident. >>> and coming up after the break, stocks sliding yet a
to go. >> any member of al qaeda, a u.s. citizen or not, needs to know they have the ability to surrender anytime, anywhere throughout the world, and they can do so before their organization is to strike. we will destroy that organization, and u.s. citizens can surrender anytime. >> just on that point, i do not take a back seat to anybody in terms of citing al qaeda. i asked you a different question, and on the question of what kind of evidence ought to be applied, whether there ought to be geographic limits, the question of whether an individual should be allowed to surrender. for example, there is a question of whether the obligation changes, a valid target has not been publicly reported, so there are issues here, and i think we are going to have to continue discussions, and, madam, i look forward to the extra round. >> senator coats. >> i think it may be better held for further discussion next week in the classified room, but this whole idea of leaks, nothing upsets me more in this committee, and we have had a lot of these in the last few years, to see something that was d
of a mess is italy. what does it mean for europe and the u.s.? a shift in u.s. energy policy. we were trying to lessen middle eastern imports but something just changed. we'll be back to tackle those topics when "power lunch" returns in 2:00. [ male announcer ] any technology not moving forward is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no going back. >>> major snowstorm slamming into the middle west this. video comes from kansas city. they were hit very hard there just a week or so after another storm walloped them. tens of thousands of people lost power in that area. in some parts of the middle west measuring sticks show three feet of snow has fallen. sue, in this digital age we still use measuring sticks. >> it's amazing, isn't it, ty? they have had a lot of snow. it's going to take a while to dig out of that. >>> meantime italian business leaders are in shock at the election results which could cause a political stalemate which in terms could affect much needed economi
, technically i wear one. the u.s. postal service®, no business too small. martha: you are the seth mcfa martha: "happening now" starts right now. jon: brand-new stories and breaking news. jenna: four days ago in washington's fight to avoid steep budget cuts u. may feel it in a big way on your next trip to the airport. more on the olympic icon charged with premeditated murder. we have the latest on the "blade runner" charged with killing his girlfriend. a second serving of severe winter weather. it's all happening now. countdown to the sequester showdown. hi, everybody, i'm jenna lee. and i just floated this idea to our audience. you know the jaws music from the academy awards? every time we say sequester this week i'm wondering if it should come up. jon: a little audio cue. jenna: both because it's a little ridiculous and also because everyone is making it so dramatic. jon: i'm i'm jon scott. four days until the cuts kick in. democrats holding a news conference now with the air travel association on how sequestration will affect air travelers, but they are not the only ones. the white house sa
to just under 2%. a flight to safety. snap up u.s. government debt. all eyes on ben bernanke, speaking of interest rates. a semiannual testimony in front of the senate banking committee tomorrow joining me now, alec for the markets and the economy. seniorconomist.@ great to see you again. before we get all of that, i know you were a speaker at the big governors confab this weekend, and sequestration was also a huge topic of conversation. we know what the president releasing a state-by-state impact of the sequestration, he's trying to get the governors on board with his fight to promote his cause. how the governors feel about that? was your impression participating in the conference this weekend? >> everyone is concerned, and the way that i lay it out, we really don't know. i mean, you think it is much ado about nothing or another moment. and you would think that it is -- $44 billion, they say it's 85, but that's actually budget authority. and you would think in that three and a half trillion dollar budget that we could do that without bringing about armageddon. i mean it just seems --
the united states is not necessarily going to represent u.s. political interests. >> reporter: o'malley is one of two american names being floated. the other, timmy dolan who scoffed at the idea. >> what about you? >> is this abc evening news or comedy central? >> reporter: and o'malley isn't holding his breath either. >> i haven't lost any sleep about it. and i have bought a round trip ticket. so i'm counting on coming home. >> reporter: in boston, it would be the religious equivalent of the red sox beating the yankees. >> we always liked boston over new york. >> it will be interesting to see how it plays out. >> reporter: both americans are long shots. popes tend to be from europe, especially italy. the last time a non-european pope was chose was 1,000 years before columbus set sail. >> i'm saying there's a chance. >> odds are not on our side. that's what i get from our report. they could go for somebody from the latin american population. they're trying to boost the catholic numbers there. a lot of ways they can go with this. no one really knows. it's just fun speculation at t
seek to narrow it like when we persuade ad court to drastically limit a u.s. government request for two months of user search queries. now, keep in mind, google owns an awful lot of properties. not only is there google but gmail, youtube, picasso, online photo sharing site. feed burner, a management tool for bloggers or orkit. a networking site popular in india and brazil and android smartphone operating system. this new legal issue how much access the government should have to internet communications is subject of a conference featuring legal scholars, civil libertarians and google representatives is starting at 1230 in washington. we'll keep an eye on that. if you don't want the government to poke around your online history. delete your history. it doesn't entirely stop the access of it but limits the duration they can examine it. jon, back to you. jon: brave new world we're getting into. doug mckelway, thank you. jenna: don't why when you buy. that is the national campaign when purchasing firearms. statistics show buyers are not always completely honest. many are suspected of giving
american airlines and u.s. airways. the boards of both of those carriers may also vote on merger today. the marriage of the two airlines means less competition between major carriers, following mergers between u.s. airways and america west, delta and northwest, contiinental and united, and southwest and airtran. "well, it's the business travelers who are the most nervous here. on the liesure end there's some much diversion to discount airlines. but you take places like philly, new york out east, there's a lot of concentration there and there could a few effects." that was depaul economics professor joe schwieterman. he does not foresee regulatory obstacles for amr and u.s. airways to merge. boeing is giving its customers a heads-up that dreamliner arrivals will likely be delayed. manufacturing on the troubled aircrafts will continue, but boeing has said deliveries that were expected in the near future are either delayed or at risk of being delayed. some carriers such as norwegian air are giving customers the option of changing flights to later dates. the dreamliner has been grounded si
. germany, close to 2% off and france over 2% and the ftse down materially. u.s. stocks to drop yesterday's session on that uncertainty in europe. stocks steadily declined throughout the day. and accelerated losses during the final hour. the dow and the s&p tuning in their worst days of the year. major asian markets also trading lower. exporters exposure to europe, they were hit particularly hard, as you'd expect. and u.s. equity futures at this hour, we have green arrows and things might turn themselves around today. fed chairman ben bernanke is going to be heading to capitol hill this morning for day one of his hemp free hawkins testimony. he's expected to defend the central bank's bond buying and likely one that automatic spending cuts pose risk. cnbc is going to have complete coverage all day. and our guest host this hour is ready to tackle all of these issues. >> this yesterday was -- thanks. we saw yesterday and you know he's not becky. you did say here with becky. he was sitting right there. he looks nothing like her. >> every morning when you say the same thing -- >> i know. andre
and two members of congress. >>> and after more than a century, the u.s. census bureau has decided to drop the word negro on its forms and surveys. starting next year, negro will no longer appear as an option for race, alongside black or african-american. the agency says many americans view the word as offensive and outdated. duh. >>> c. everett koop, the nation's most famous and influential surgeon general, has died at 96. president reagan appointed koop back in 1981. he was instrumental on changing america's views on smoking, trying to get the entire country to kick the habit. he also endorsed condoms and sex education to help stop the spread of aids. he was a frequent visitor to dartmouth until shortly before his death. they say his mind was as sharp as ever, even at the age of 96. >>> pope benedict is leaving it up to the cardinals of the catholic church when it comes to starting the meeting that will choose his successor. benedict changed the rules, allowing the cardinals to move up the conclave start date if all of them arrive at the vatican before the usual 15-day waiting period end
that downgraded the u.s. it does not smell perfectly -- connell: they did not want to admit wrongdoing in a settlement. now you have a lawsuit as a result of that. there are a lot of people that were wrong about the financial crisis. maybe some of them were wrong on purpose, maybe they were not. if you look at the complaint, they may have some issues. there are e-mails. internal e-mails, if you look at the complaint back in 2006 where in s&p employee said rating agencies continue to create an even bigger monster. let's hope we are all wealthy and retired by the time this house of cards falters. that applies that selig did know it was a mess and they still said it is all right. >> you have to take into account how many employees work at any organization. it is very hard. we have not seen the complaint yet. what it actually stipulates. in terms of prognosticating the future and predicting the financial crisis -- connell: a lot of people were wrong. [talking over each other] connell: i do not know what your personal track record was, but analysts are wrong all the time. they make predicti
, that the u.s. patent office issued a patent. i will not give you a pop quiz. it was labeled john deere plow. the implement sketched out could have easily been labeled one of the most important inventions in history. they called it the plow that broke the plains, and it did. by replacing cast iron with smooth innovation, it opened up swaths of land for cultivation. it made it possible for my hometown to exist. beforehand, tilling an acre took a full 24 hours. afterward, as little as five. every toil ended another assumption of what the land could produce. it is not just the start of agricultural success, but of national success. this kind of game changing innovation has enabled us to leap ahead and increase harvest and feed the whole world. sometimes these innovations come from the most advanced science. other times they are simple steps and ideas that come from looking at and listening closely to the problem. all of them can break down barriers to food security. it can allow us to allow new paths of progress. we need those new pathways forward. take a look at a few recent headlines. "drough
with the company. >>> meantime, buyout vaufrs come up short. >>> and a u.s. judge says that bp recovered 810,000 of barrels of oil from its 2010 gulf of mexico spill site. the judge ruled that this amount should be excluded from certain penalties that the company may face, cutting its maximum fine by as much as $3.5 billion. a spill-related civil trial as we've been reporting this week is due to start next week in new orleans. >>> at the top of the show, you said something that made me think of ground hog day. you said markets at a new five--year high. >> i said new -- i don't like to say fresh. and you really don't need to say new five-year high -- >> five-year high -- >> but i see it every. where i saw -- >> we say it every day, too. seems like we've been in this position. five-year high. five-year high. ♪ >> we're not that far from a new high. >> a real new high. >> hopefully. how many people -- remember yesterday, how many people said, no, this can't go much -- we've got to have a correction. and you know, a lot of times that's a lonesome cry after a while about the correction and they
a shock in the u.s. certainly. was that warranted, do you think? >> i think there was some overreaction of the market. first of all, this result is not totally unexpected. secondly, i don't think it changes that much the picture. probably not that good for italy, but anyway in europe 2013 it will be a transition year, you know. there is also an election in germany, difficult to expect any strong political movement before 2014 so i don't think it changed very much the picture actually. >> one of your analysts was telling clients to sell italian bonds and buy spanish ones. is this something that the banks would buy as well? >> we don't think we have to trade on sovereign debt. you've seen effectively an increase in a decrease in the price of the italian bond. there was one of reaction. again, it's for our client to decide. >> yes, of course. let's talk a bit about the banking sector because there's a real conversation going on right now in terms of should the major banks be split up? you've got regulators across the world having different opinions on this. where do you come out is this do
-week low against the u.s. dollar on concerns over the strength of europe's financial system. the euro fell to an intraday low of 131.44. this after the european central bank announced crisis loan repayment by banks fell short of expectations. >>> lots of actions in the medical -- metals pits this week. gosh, gold, silver. silver and copper both ending the week lower. silver closing down nearly 5% while copper posted a 5 1/2% drop, david. david: we have got it all covered. we have daniel in the pits of the cme. our market panel, larry shover who we usually see in the cme is in new york. and steven sachs, proshares head of capital markets. i want to start with daniel, at the cme. danny, amazing turn around when you think what happened yesterday. how much of that was dependent upon what happened with hewlett-packard? i mean did people look at hewlett-packard as a pace seter here in today's market? >> no, absolutely no.. this is all about the fed and bullard coming out saying they're not going to pare back as quickly as some people thought, definitely sent this thing up. just as yesterday when
along with joe kernen and andrew ross sorkin. keeping an eye on the u.s. equity foourchs, well, after a couple of days of declines, dow futures are up significantly this morning. that's a gain of 50 points above fair value. the s&p 500 is opening up by about 6 points and this comes after two days of declines and a lot of questions about whether this rally has tapped out, at least for the moment. among the key market drivers this week, the fed and the conversation continues today. boston fed president eric rosengren and fed governor jerome powell will be speaking at a forum in new york. you don't have to wait until then to get inside scoop on the central bank. james bullard will be our special ges guest, with us starting at 7:00 a.m. eastern time, and this is huge given all the news from the fed this week and all the questions the market has been asking. the two-days of declines we've seen in the markets has pretty much all been blamed on the markets that we got a couple of days ago. we will talk to jim about everything that was happening inside the room and try to get his take to wher
're seeing red arrows on the board. most notably the euro hitting a one-week low against the u.s. dollar. in asia, china up eighth straight session. nikkei highest level since september of 2008. disney set to open at record highs. strength in media networks. word that it's planning films based on "star wars" characters. >>> zynga, revenues continue to fall and the social gaming company said 2013 would be profitable. >>> company seeing momentum in america's improvement in europe and big margin gains for 2013 for ralph lauren. >>> the post office could be eliminating or cutting back deliveries on saturday. we'll explain. they carry the official announcement at 10:00 a.m. this morning. >>> we start with disney. shares rising pre-market, set to open at all-time highs at fiscal fourth quarter profits beat the markets. growing attendance at the theme parks. real news came during bob iger's interview with our own julia boorstin. >> in fact, we are working on a few stand-alone films. larry kazden and simon ginberg are working on films derived on "star wars" characters that are not part of the ov
over the next two years, all of our 66,000 u.s. troops currently in afghanistan -- we are leaving that country. for afghanistan that means there is going to be some significant shortfalls in combat capability. they are relying on the united states for all kinds of things. not only up until recently for being the primary fighting mechanism for the afghans, but also from a logistical standpoint and from an intelligence standpoint, we provide the bulk of support. that also includes air lifting for their troops to get a point of conflict where they need to engage with the enemy. host: as far as picking up after we leave? caller: they are not completely prepared. they have the afghan national come -- the afghan national police that is getting pretty good at their primary task of going after caliban cells. the other problem of this is an uneven prepared this. there are significant problems with training the afghan army. there are significant problems with training the afghan police. there is going to be some significant drawbacks to the drawdown announced by the president. host: "the ne
think that if you actually are going to be able to target eve an u.s. citizen that is meant to do us harm, which this administration has said i think rightly we have the right to do, then there should be in camera, right to congress, that has oversight for our military. they tear ones who declare war. they're the ones that raise moneys for our military and provide for rules and regulations of our millionth by the constitution, should be able to then see post facto and watch to make sure that we have not gone too far. that's happened before as you know. and so therefore that's when you can review the processes if it has to remain classified. >> representative davis, and not implying here this is a major scandal at all, but the saying does go that the cover-up is always worse than the crime. >> right. >> is there any sense that's what's going on here? >> well, i don't think anybody foresaw the wide application of drone usage that the administration's undertaken. and i think you're going to have to have some transparency in terms of when are they going to be used, what are the protocols
nose at the u.s. and the international community by carrying out a new, more powerful nuclear test. is the first one under kim jong-un, press obama calls it a threat to u.s. security and world peace. the first indication of the underground test came when seismologists detected a tremor in an area not known for earthquakes. >>> in his state of the union speech tonight, president obama will announce 34,000 u.s. troops will be home from afghanistan by this time next year. jake tapper, the first to break the news after talking to sources who know about the president's speech. the move's going to cut the number of troops in afghanistan by more than half. troop reductions will continue through the end of next year. >>> so more than 4,000 people if you can imagine this, stuck on this cruise ship, disabled cruise ship. they are hot. they are hungry. they are holding their noses because toilets are overflowing. folks feeling desperate now. the ship is finally on the move. you have tugboats towing it to mobile, alabama, originally headed to a port in mexico but strong currents pushed it 90 m
, art, certainly we have a lot of deals going on. the biggest month for u.s. deals since june 2008. it's the gdps around the world putting a wrempbl into futures this morning. >> particularly in europe, shares of gdp reports knocked europe for a tailspin here. not too much valentine's day cheer showing up. so far beginning to look like the dow has given up rallying for lent. let's hope that doesn't continue. >> lent is a long time so let's hope not. in terms of the g-20, it's sort of a photo-op and that's it. is it much more important this time around as there's so many statements regarding currency manipulation being bandied about, having an impact on currency market and equity markets. >> you're absolutely correct. it went from g 7 comments to possibly right on the main table. g-20 meeting. the thrust is the end. how do we keep this orderly and prevent an outright currency war from breaking out. we've got a lot of american message fund players going along. half the world appears to be short the end believing this is going on. >> a longtime strategy to a certain extent, worries about
on all cylinders in the u.s. how long will the good times last? autonation's ceo talking to us exclusively about sales, the american consumer, as well as big plans for 2013. and the new app for the android world. the ceo tells us exclusively how it all translates into dollars and cents. countdown begins right now. >>> good afternoon everybody. i'm liz claman. welcome to countdown to the closing bell. it is the last hour of trading. there's a fair amount of red on the screen, but nothing horrific. check out the dow 30. most of the blue chips are down, but american express and coca-cola are defying the laws of gravity along with a couple other names including boeing. united technologies, and travelers. okay. the best levels still since the fall of 07. none of the major indices are anywhere near down a percent. that strength is helping the dow minimize its losses. taking a look at the s&p 500. it's down 4. we have the nasdaq down 12. but still for the s&p 7 points above the 1500 level. not bad. that gives it a little bit of breathing room. in terms of sectors, where's the weakness
hurt u.s. exports and jobs by making u.s. products more expensive in japan, our fourth largest trading partner. the yen is already down 15% or so in the last few months since japan talked up more aggressive steps to stimulate its economy. president obama and the new japanese minister met at the white house on friday. trade was on the agenda; however, no word from either side if they actually discussed corp sigh specifically, but as you recall, two weeks ago, the g20 group of world's largest economies including the u.s. and japan issued a communique on currencies that analysts viewed as an endorsement of japan's aggressive economic maps including a lower yen. for now, doesn't look like the u.s. or other nations move to devalue their concern currencies to respond, but the reliance of american manufacturing warns japan saying, quote, the practice of currency manipulation with a major trading partner such as japan is a subsidy for their products entering our market and a tax on our exports entering their country." >> not been a year there ceoer, and meyer sayings get in the office or get o
in early detection and treatment have helped reduce breast cancer mortality in the u.s. by 33% since 1990. help us continue serving the millions of women and men with breast cancer who still need us every day. register for the 3-day now. (woman) it's just been an amazing, amazing journey. i love these people. ♪ and it's beautiful >> 6:10 on friday. the winds are nonexistent compared to yesterday. we will talk temperatures. we are running around 34 in napa and 38 in concord and san jose, and 36 in los gatos and half moon bay, and 39 in hayward, and san carlos and everyone else low-to-mid 40's. throughout the afternoon hours, how about upper 50's at the coast, maybe a few mid-50's like half moon bay and low-to-mid 60's for the rest of us. headed into tomorrow we will have temperatures on the decline and i will show you that in a second and a chance for sprinkles. sue? >> back to san jose update on the accident, the capital expressway involving a bus car ran a red light, hit the bus, more damage to the car than the bus but one person is injured and taken to the hospital but the intersectio
here and joining us. as you said, it is a good day to here be here. we've been watching the u.s. equity futures because of all the actions yesterday. this morning, you did see a few green arrows, but no massive move at this point. the magic number is 14,164.53. that is the record closing high for the dow. it was reached back on october of 2007. the bulls -- a number of catalysts for monday's sharp sell down. some are calling this the bernanke bounce. the stocks soared after the two-day testimony on capitol hill. >> the evidence thus far is that the housing market is hit the bottom and is recovering. we've seen rising prices over the last year or so. we're seeing some significant increases in starts. and sales. foreclosures are still too high, but they're coming down. the number of people under water on their mortgages is coming down. so we're still far from where we would like to be. but the evidence is that the housing market is strengthening and that low mortgage rates are one reason for that strengthening. >> although a long period of low rates could encourage successful risk taking
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